Xiaomi Files For World's Biggest IPO Since 2014

03/05/2018

The exchange operator had modified its regulations to accommodate such companies after losing Alibaba's dual-class listing to NY because rules at the time only allowed a single share class. It also said it made a net loss of CNY 43.89 billion versus a profit of CNY 491.6 million in 2016.

According to research firm IDC, Xiaomi has also steadily expanded its overseas market and less than half of its phone shipments in the first quarter of this year were domestic.

Xiaomi is a lot more than a smartphone company.

Xiaomi said its gross profit margin for smartphones was 8.8 percent previous year, which is much lower than the estimated profit margin of around 60 percent that Apple has for its flagship iPhone devices. Domestic rivals Huawei, Oppo and Vivo surpassed Xiaomi in 2016 but the company bounced back to become the world's fourth largest smartphone maker after Samsung, Apple and Huawei.

A wave of other huge Chinese tech companies are also reportedly considering going public in the next year, including online payments giant Ant Financial. Now it is the turning of another Chinese company, Xiaomi, to have its own 15 minutes of fame.

The Beijing-based company Thursday laid the groundwork for a blockbuster initial public offering in Hong Kong, capping a remarkable turnaround for what only 18 months ago was looking like one of China's biggest tech flameouts.

Xiaomi still depends on China for the majority of its revenues, a challenge given that that market is nearing saturation.

Typically, companies that offer different types of stock issue two classes, one that has normal voting rights, and one with "super voting" rights that's usually reserved for founders, executives and other large stakeholders.

Co-founder and CEO Lei Jun said in a recent interview that CDRs are "an excellent idea" and 'a great policy invention.' Under his leadership, the company is on a spree to enter developed markets of smartphones and is as well consolidating itself in the emerging markets.

Xiaomi will be implementing dual-class shares.

Xiaomi may just shatter the glass ceiling with backers like CLSA, Morgan Stanley and Goldman Sachs Group sponsoring their IPO.

Related News:

As well as Obama, three USA presidents have won the Nobel Peace Prize: Theodore Roosevelt, Woodrow Wilson, and Jimmy Carter. South Korean President Moon Jae-in said this week Trump deserved the prize for his work to help end the nuclear standoff.

According to Nexstar'sTobin McDuff, who is reporting from the draft, the fans were happy to welcome Leighton Vander Esch to town. The Dallas Cowboys drafted Colorado State Rams wide receiver Michael Gallup with the 81st overall pick in the 2018 NFL Draft .

Rayudu, who was demoted to the fourth spot, initially gave the strike to Dhoni and the Ranchi stumper milked the bowlers. The 36-year-old has also pitched in with handfull of wickets - eight thus far - as he remains a vital cog in CSK dugout.

Later in the series, Bledsoe responded to a question about Rozier by telling reporters, "I don't know who the f-k that is". After Game 2 in the series, Bledsoe pretended not to know who Rozier was in his postgame press conference.

Outside of the impossible-dream of having the Beatles reunite, a new Abba may be the biggest reunion that music could muster up. ABBA fans have been saying Thank You For The Music today as the pop legends announced they have recorded two new tracks.

And, all the smartphones launched by Realme in the country will be sold exclusively through Amazon India . The OPPO Mirror 5 launched way back in 2015 came with the similar diamond-like mirrored finish.

But for several seasons now, both teams play each other with nothing at stake. "We couldn't get close to them". The last team to do so as quickly was Everton , in the 1931-32 season - they achieved the mark in 32 games.

Drafting a quarterback in the first round goes against Ravens owner Steve Bisciotti's comments in February. Baltimore, in 2017, ranked seventh-lowest in schedule-adjusted Passing NEP per play on the arm of Flacco.

Andres Lopez Elorza was arraigned in Brooklyn Federal Court on Tuesday, one day after he was extradited from Spain. Andres Lopez Elorza, 38, is now in custory in NY accused of implanting the drug for a Colombian trafficking ring.

Pell himself has repeatedly proclaimed his innocence, saying that he finds sexual abuse to be "abhorrent". Cardinal Pell has handed in his passport and is unable to leave Australia as a condition of his bail.

Darnold was formally introduced at the team's facility Friday after spending Thursday night in Dallas at the draft site. Still, it's a tribute to McCown, who was drafted in 2002, that he's still in the league at age 38.

Most liked

Iran Exports Soar Ahead of Possible New Sanctions
Futures for September delivery were little changed at 443.8 yuan per barrel on the Shanghai International Energy Exchange. President Donald Trump to decide whether to continue waiving U.S. sanctions against Iran was also underpinning prices.

World marks Press Freedom Day amid rights violations
Incidentally, the two countries are noted for gross rights abuse against journalists in the line of their work. It also underlines the role that media play as champions of accountability and the rule of law.

Liverpool squad celebrates Salah's PFA award
Salah and 26-year-old Belgian De Bruyne collected more than 90% of the votes from members of the Football Writers' Association. The 25-year-old becomes the first African victor of the prestigious FWA accolade, which has been awarded since 1948.

Marathon Petroleum to Buy Andeavor for over $20B
Bart Baum decreased its stake in Marathon Oil Corp (MRO) by 92.67% based on its latest 2017Q4 regulatory filing with the SEC. COPYRIGHT VIOLATION NOTICE: This report was originally published by Week Herald and is the sole property of of Week Herald.

Jermaine Jenas criticises Tottenham fans in Watford win
Maybe we didn't play the way we wanted to play and our performance wasn't right but most important was the three points. There were a lot of situations when I arrived but we have tried to improve the position in the Premier League .

Facebook to give parents ability to limit kids use of messenger
Meanwhile, Parent-approved Content is a more personalised feature that allows users to hand-pick videos from the YouTube Kids app. Since its launch in December 2017, Messenger Kids is facing widespread criticism for encouraging children to join social media.

EXACTLY What will Happen In Nashville vs Winnipeg
After shutting out Minnesota in the final two games in the first round, Hellebuyck's shutout streak ended after 163 minutes. Of its 89 games this season, 44 have gone over the total, while an additional 44 have gone under and just one has pushed.